Friday 6 November 2026 Export VNOM’s income statement to Excel — free account

Viper Energy Inc.

VNOM Energy Oil & Gas Midstream

Viper Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 62.0% from fiscal 2024.

Revenue: +58.1%
EPS: +397.4%
Free cash flow: +57.3%
Total debt: −8.66%

Quarter to September 2026, against a year earlier

39.93 1.13 −2.75%

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Market cap: $14.4B
P/E: 18.1×
Fwd P/E: 16.7×
Dividend yield: 6.14%
F-score: 2/9
Altman Z: 1.50
Beneish M: −2.52
Dividend safety: 10/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 589.46

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	2	—	—	—	—	—	—	—	—

Insider Ownership 7.33%

Capital & Financial Ratios $m

Size

Market Cap 14,360.00

Revenue ttm 2,284.00

Net income ttm 600.00

Free cash flow ttm 104.00

Net debt Q 2,384.00

Valuation

P/E 18.10

Forward P/E 16.70

Price / sales 3.39

Forward P/S Powerpack

Price / FCF 74.48

Price / book 0.74

Financial health

Current ratio Q 5.92

Debt / equity Q 0.23

Interest coverage Q 13.30

Growth

Revenue growth Q +58.13%

Operating income growth Q +326.70%

EPS, this year +77.20%

EPS, next year A −11.32%

Revenue, next year A +75.48%

EPS, past 5 yrs —

EPS, next 5 yrs A +13.92%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 51.31%

10-year low 10-year high

P/S against its own 10 years 26.22%

10-year low 10-year high

P/B against its own 10 years 23.54%

10-year low 10-year high

EV/Sales against its own 10 years 21.60%

10-year low 10-year high

EV/FCF against its own 10 years 96.81%

10-year low 10-year high

Dividends raised 2 years running

Yield: 6.14%
Annual rate: 2.45
Payout ratio: 111.5%
Growth, 2017–25: +8.32%/yr

1.23 ’17
2.12 ’18 +72
1.82 ’19 −14
0.68 ’20 −63
1.10 ’21 +62
2.44 ’22 +122
1.18 ’23 −52
1.52 ’24 +29
2.33 ’25 +53
3.08 ’26e +32

paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	26	27	13	10
Receivables	113	180	350	515
Inventory	—	—	—	—
Other	0	18	—	—
	144	238	413	568

	2023	2024	2025	Q'26
Payables	1	2	—	—
ST’ Debt	—	—	—	—
Other	3	6	4	23
	33	49	111	96

Compound Annual Growth %

	10y	5y	3y
Sales	33.98%	40.96%	17.20%
Cash Flow	32.35%	39.89%	14.59%
Earnings	0.00%	0.00%	0.00%
Book Value	35.54%	40.98%	64.65%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.59 Actual 0.72

0.19 0.37 0.55 0.72 0.90

Q4 FY25 Beat +0.04

Q1 FY26 Beat +0.12

Q2 FY26 Beat +0.03

Q3 FY26 Beat +0.13

Q4 FY26 — Feb 22

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	0.27	0.31	Beat by 0.04
Q1 FY26	0.43	0.55	Beat by 0.12
Q2 FY26	0.73	0.76	Beat by 0.03
Q3 FY26	0.59	0.72	Beat by 0.13
Q4 FY26	0.82	—	Reports 22 February 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.53	0.73	1.55	—	—
’25	0.62	0.28	(0.52)	(0.61)	(0.48)
’24	0.49	0.62	0.52	2.04	3.82
’23	0.47	0.42	1.11	0.70	2.69
’22	0.22	0.44	1.06	0.29	2.00
’21	(0.05)	0.07	0.26	0.50	0.85
’20	(2.10)	(0.32)	(0.01)	(0.41)	(2.84)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	511	677	661	—	—
’25	245	297	418	435	1,395
’24	205	216	211	229	861
’23	169	161	293	205	828
’22	202	239	222	204	866
’21	97	114	128	166	505
’20	79	33	63	76	251

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	328	487	447	—	—
’25	201	172	281	399	1,053
’24	115	144	203	158	620
’23	107	145	240	146	638
’22	136	163	214	187	700
’21	55	75	70	107	307
’20	96	20	27	53	197

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	921	384	(395)	—	—
’25	(62)	156	(924)	399	1,053
’24	95	225	(41)	429	708
’23	66	185	239	146	635
’22	168	162	203	279	811
’21	55	74	64	(167)	26
’20	31	19	28	91	169

Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 26.2% a year for ten years.

Implied: 26.2%

Open the model

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Sep ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	79	172	289	298	251	505	866	828	861	1,395	2,284		+37.5%	2,448	2,402	2,373	+19.4%
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00		0.0 pt	Powerpack Viper Energy Inc.’s next three years, line by line Analysts expect revenue to grow 19.4% a year to 2028 — slower than the 37.5% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(11)	111	191	180	(51)	258	622	547	504	(225)	718		+40.0%
	EBT margin, %	(13.77)	64.80	65.96	60.22	(20.33)	51.14	71.83	66.06	58.54	(16.13)	31.44		(2.4) pt
	Net income	(11)	111	263	221	(193)	257	655	501	604	(206)	600		+38.6%
Per share, $
Per share, $	Revenue	0.95	1.65	4.04	4.83	3.70	7.39	11.46	11.16	9.17	9.79	11.77		+29.5%
	Earnings	(0.13)	1.07	2.01	0.75	(2.84)	0.85	2.00	2.69	3.82	(0.48)	2.21		+15.6%
	Cash flow	0.83	1.33	3.42	3.83	2.90	4.50	9.26	8.60	6.60	7.39	8.56		+27.6%
	Capex	(2.48)	(3.30)	(0.06)	0.00	(0.40)	(4.12)	1.48	(0.04)	0.94	0.00	(8.03)		n/m
	Free cash flow	(1.65)	(1.96)	3.36	3.83	2.50	0.38	10.73	8.56	7.54	7.39	0.54		n/m
	Book value	6.59	8.76	17.29	35.39	27.49	32.68	30.70	38.52	41.59	72.71	54.00		+30.6%
	Shares, m	83	104	72	62	68	68	76	74	94	143	178		+6.2%
Valuation, ×
Valuation, ×	P/E	0.00	22.26	14.63	30.44	0.00	27.32	14.44	11.45	13.37	0.00	18.10		13.4
	P/S	17.06	14.31	6.45	5.10	3.14	2.88	2.53	2.77	5.35	3.95	3.39		6.4
	P/B	2.46	2.69	1.51	0.70	0.42	0.65	0.95	0.80	1.18	0.53	0.74		1.2
	EV/Sales	18.46	14.71	7.80	7.06	5.28	4.34	3.18	4.05	6.58	5.78	4.60		7.7
	EV/FCF	(10.66)	(4.75)	(21.68)	(24.13)	7.81	84.55	3.39	5.28	8.00	(50.37)	101.06		(0.3)
Cash, $m
Cash, $m	Operating cash flow	69	139	244	237	197	307	700	638	620	1,053	1,661		+35.4%
	Capex	(206)	(344)	(4)	—	(27)	(281)	112	(3)	88	—	(1,557)		n/m
	Free cash flow	(137)	(205)	240	237	169	26	811	635	708	1,053	104		n/m
Balance, $m
Balance, $m	Working capital	21	50	59	59	9	87	97	110	189	302	472		+34.3%
	Net debt	111	69	388	583	537	737	559	1,057	1,056	2,173	2,384		+39.2%
	Shareholders’ equity	548	914	1,237	2,185	1,861	2,233	2,322	2,858	3,907	10,363	10,476		+38.6%
Returns, %
Returns, %	ROA	(1.82)	13.24	10.80	2.08	(7.33)	2.11	5.09	5.80	7.94	(0.77)	2.07		+1.1 pt
	ROIC	(0.88)	7.24	7.81	4.37	1.38	7.61	14.77	9.90	7.14	(0.70)	4.01		+0.2 pt
	ROE	(2.09)	15.25	13.39	2.70	(9.51)	2.83	6.66	7.72	10.61	(0.95)	2.58		+1.1 pt
People
People	Employees	—	—	711	—	—	—	—	—	—	—	—		—
	Revenue/emp, $m	0.00	0.00	0.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—		n/m

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated 28 October 2026

Viper Energy owns and acquires mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas. Rather than operating most wells itself, it receives a share of the production revenue from properties where other companies drill and produce. Its interests cover oil, natural gas and natural gas liquids.

Substantially all of Viper’s properties are leased to working-interest owners, which bear the costs of operating and developing them. Viper’s share of production depends on lease terms that vary by property. Most of its interests are perpetual, although some overriding royalty interests may expire.

Read the full business profile →

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CQP Cheniere Energy Partners, L.P.	$27.7B	9.3×	14.7×	+7.07% (above 0%: growing)	+65.03% (above 0%: growing)	+16.72% (above 0%: growing)	39.59%	31.66%	Compare
PAGP Plains Group Holdings, L.P.	$20.1B	9.4×	9.6×	+66.26% (above 0%: growing)	+1,213.33% (above 0%: growing)	+50.93% (above 0%: growing)	4.57%	2.24%	Compare
PAA Plains All American Pipeline, L.P.	$17.3B	6.8×	7.2×	+66.26% (above 0%: growing)	+1,095.24% (above 0%: growing)	+50.92% (above 0%: growing)	4.57%	2.25%	Compare
WES Western Midstream Partners, LP	$16.5B	12.9×	12.5×	+25.38% (above 0%: growing)	−9.20% (below 0%: shrinking)	+44.45% (above 0%: growing)	89.81%	38.65%	Compare
VNOM Viper Energy Inc.	$14.4B	18.1×	16.7×	+58.13% (above 0%: growing)	n/m	+57.25% (above 0%: growing)	100.00%	60.36%
DTM DT Midstream, Inc.	$11.5B	24.4×	26.7×	+7.01% (above 0%: growing)	+4.92% (above 0%: growing)	+40.46% (above 0%: growing)	100.00%	48.51%	Compare
FRO Frontline PLC	$10.0B	6.7×	5.4×	+112.25% (above 0%: growing)	+745.71% (above 0%: growing)	+155.42% (above 0%: growing)	74.15%	65.92%	Compare
AM Antero Midstream Corporation	$9.1B	13.4×	15.8×	+10.92% (above 0%: growing)	+244.92% (above 0%: growing)	+232.64% (above 0%: growing)	74.54%	170.39%	Compare
KNTK Kinetik Holdings Inc.	$8.0B	16.3×	38.9×	+22.72% (above 0%: growing)	+766.67% (above 0%: growing)	+692.49% (above 0%: growing)	34.67%	11.19%	Compare
Median of peers	$14.0B	11.1×	13.6×	+24.05%	+495.32%	+50.93%	56.87%	35.16%

All 57 Oil & Gas Midstream stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 55.18%

Held by the ten largest 34.82%

Holder	Shares	Stake	Change
Capital Group	27.77m	7.73%	+2.49m
BlackRock	19.23m	5.35%	+1.76m
Vanguard	19.00m	5.29%	−422.01k
Kimmeridge Energy Management Company, LLC	15.68m	4.37%	+15.68m
T. Rowe Price	10.59m	2.95%	−207.94k
Wellington Management	8.70m	2.42%	−2.91m
State Street	7.56m	2.11%	+304.44k
Fidelity International (FIL)	5.65m	1.57%	−28.05k
D. E. Shaw	5.47m	1.52%	+216.45k
ADAGE CAPITAL PARTNERS GP, L.L.C.	5.43m	1.51%	+421.92k

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Directors and executive officers, together less than 1%

Diamondback Energy, Inc. 42.30%

Capital World Investors 9.70%

Kimmeridge Energy Management Company, LLC 7.50%

T. Rowe Price Associates, Inc. 5.60%

Wellington Management Group LLP c/o Wellington Management Company LLP 5.30%

Blackstone Holdings III L.P. c/o Blackstone Inc. 5.00%

Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Viper Energy Inc. (VNOM) Latest News

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Viper Energy Inc.

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends raised 2 years running

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Valuation

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

Business profile

Viper Energy Inc. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Largest institutional holders 13F, quarter to 30 June 2026

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Viper Energy Inc. (VNOM) Latest News

VNOM metrics, ten years each

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends raised 2 years running

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Valuation

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

Business profile

Viper Energy Inc. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Largest institutional holders 13F, quarter to 30 June 2026

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Viper Energy Inc. (VNOM) Latest News

VNOM metrics, ten years each

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